Will I be penalised for lodging my return late?

You may receive a fine or interest penalty charge from the ATO if you lodge your return late. Generally if you are entitled to a refund those penalties are minimal. Parfitt's has lodgement extension facilities that will minimise such charges.

What if I don't have a Payment Summary from a job?

If you are still missing one or more of your Payment Summaries then you need to contact that employer. If you can't get one from that employer then contact the Tax Office on 13 28 61. Don't forget to include all your payment summaries, even if you've only worked in a job for a couple of weeks.

What deductions can I claim if I'm studying?

Only study directly related to your current job may be claimed as a self-education expense. For example if you were a waiter and you were studying book-keeping then you wouldn't be able to claim the cost of the course as a work related expense - even if you were looking for work as an accountant.

I received money from the Gov't during the year, do I include it in my tax return?

Some government payments and allowances are included as taxable income, others are not. It's important that you declare any taxable payments such as age pensions, Newstart allowance, youth allowance or Austudy in your tax return. A complete list of payments which do not need to be included on your tax return can be determined when you meet with our Consultant.

I have received a dividend statement, do I need to declare this as income?

You need to include dividends and any other interest earned on bank accounts. Don't forget to include all interest, even if you've already closed the bank account. Also if you've quoted your tax file number when opening a bank account then you need to declare that interest in your individual tax return, not in a partnership or trust tax return.

How much can I claim on my motor vehicle?

There are different methods for claiming expenses in relation to the business use of your motor vehicle. These can be complex so to maximise your potential claim you should maintain a daily mileage log book for at least three months of the year and a record of any expenses for the full year. Call in to our office for a brief explanation of how to record and maintain your Log Book.

How much can I claim if I buy a computer?

If you purchase a computer for use in your work or business, you can generally claim a percentage of the depreciation that pertains to your work or business use. The depreciation allowed will depend on the expected life of the computer or how long it is expected to be current.

How much can I claim for my wife and my children?

The amount you can claim will depend on the income levels of you and your individual family members, the age of your children and any amount already received through Centrelink payments. It is, therefore important that you bring all these details with you when you attend our office to have your return prepared.

How long will my refund take?

Last year the Australian Tax Office (ATO) was able to process almost 90% of returns within 10 working days. We are expecting this year however, that some delays may be encountered due to data matching between the ATO and Centrelink. If your refund has been with the ATO for more than 21 days then contact us for further assistance. If you are expecting refunds from prior years then a request for priority processing must accompany the lodgment of the manual returns.

Do I have to lodge a tax return?

Some individuals do not have to lodge a tax return. Each person's situation will differ due to age, income and expenses. Seek expert advice from our office experts.

Can you prepare multiple years returns at the same time?

We can prepare and lodge all past year's returns together at the same time. The current year's refunds will be returned in the normal period however the ATO have changed their service charter for processing prior year returns. If you entitled to a refund and need the funds urgently a letter requesting that the return be treated as a priority must accompany the manual returns when they are lodged with the ATO.

Can I claim travel for my work?

Home to work and return travel is generally not claimable except in certain circumstances. Travel between jobs on the same day and travel for work (ie. visiting clients, doing pick-ups or deliveries) would be claimable. If you use public transport then keep all receipts and/or diary records. If you use your own car then you need to keep a log book of all business mileage travelled and all expenses of the car including petrol, repairs, registration, insurance and interest on a car loan.

Can I claim my work uniform as a tax deduction?

Deductions for uniforms can only be claimed if the work uniform is specific and identifiable to your organisation (such as chef's checked pants) or protects you from injury whilst you are at work. You can't claim the cost of a plain uniform or conventional clothing, such as white shirt and black pants or skirt which is commonly worn by waiters and waitresses, even if your employer tells you to wear them.

Can I claim any deductions if I have no receipts?

Under some circumstances receipts are not required, but in order to maximise your tax deductions, we recommend you retain all your work and business related receipts and bring them with you at the time of your return preparation.